US stocks higher on Fed meeting expectations

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US stocks were higher in early trading on Wednesday, as investors awaited the outcome of the Federal Reserve's policy meeting.

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The Dow Jones Industrial Average rose 0.3%, while the S&P 500 and the Nasdaq Composite both gained 0.2%.

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Fed policymakers are widely expected to leave interest rates unchanged at their two-day meeting, which concludes later on Wednesday.

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In economic news, data showed that private sector payrolls rose by more than expected in the month of September.

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The ADP National Employment Report showed that private sector employment increased by 135,000 jobs in September after climbing by a revised 103,000 jobs in August.

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Economists had expected an increase of about 125,000 jobs compared to the addition of 104,000 jobs originally reported for the previous month.

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With the bigger than expected increase, private sector employment has now risen by an average of 132,000 jobs per month over the past three months.

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The report also showed that manufacturing payrolls increased by 3,000 jobs in September after edging down by 1,000 jobs in August.

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Image Credit: Google 

Service-providing employment rose by 132,000 jobs in September after climbing by 102,000 jobs in the previous month.

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Employment in the goods-producing sector also increased by 3,000 jobs in September after showing no change in August.

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